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FORM 3 OMB APPROVAL
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OMB Number 3235-0104
Expires: September 30, 1997
Estimated average burden
hours per response .............0.5
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U. S. SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
INITITAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person*
UTEK Corporation
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(Last) (First) (MI)
202 South Wheeler Street
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(Street)
Plant City FL 33566
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(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
10-13-99
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Issuer Name and Ticker or Trading Symbol
Nu Electric, Inc.
(OTCBB: NRGE)
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5. Relationship of Reporting Person to Issuer (Check all applicable)
[ ] Director [ X ] 10% Owner
[ ] Officer (give title below) [ ] Other (specify below)
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6. If Amendment, Date of Original (Month/Day/Year)
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7. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
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Form filed by More than One Reporting Person
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TABLE I - Non-Derivative Securities Beneficially Owned
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1. Title of Security | 2. Amount of Securities | 3. Ownership Form: | 4. Nature of Indirect Beneficial
(Instr. 4) | Beneficially Owned | Direct (D) or Indirect | Ownership (Instr. 4)
| (Instr. 4) | (I) (Instr. 5) |
<S> <C> <C> <C>
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Common Stock | 791,957 | D |
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* If the Form is filed by more than one Reporting Person, see
Instruction 5(b)(v).
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Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
FORM 3 (continued) Table II -- Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
<S> <C>
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1. Title of Derivative Security (Instr. 4) | 2. Date Exercisable and Expiration Date
| (Month/Day/Year)
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| Date Exercisable | Expiration Date
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3. Title and Amount of Securities | 4. Conversion or Exercise | 5. Ownership Form of Derivative | 6. Nature of Indirect
Underlying Derivative Security | Price of Derivative | Security: Direct (D) or | Beneficial Ownership
(Instr. 4) | Security | Indirect (I) (Instr. 5) | (Instr. 5)
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| Ammount or | | |
| Number of | | |
Title | Shares | | |
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Explanation of Responses:
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** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
UTEK CORPORATION
July 14, 2000
/s/ Clifford Gross
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**Dr. Clifford M. Gross, Ph.D.
CEO & Chairman of the Board